Heads of Tax Administrations Chart Future Collaborative Initiatives in Singapore
The meeting, from 11-13 October 2023, witnessed the agreement on new collaborative initiatives to shape the future of tax administration.
SINGAPORE— The annual plenary meeting of the OECD's Forum on Tax Administration (FTA) concluded in Singapore, uniting tax commissioners and delegates globally, along with representatives from international organizations, regional tax administration bodies, business, and academia, writes Winston Mwale.
The meeting, from 11-13 October 2023, witnessed the agreement on new collaborative initiatives to shape the future of tax administration.
Commissioners at the meeting endorsed a comprehensive set of projects aimed at realizing the vision of Tax Administration 3.0.
These projects leverage new technology tools to embed compliance, reduce tax gaps, and alleviate compliance burdens significantly.
The initiatives are poised to transform the landscape of tax administration in the coming years.
Among the key focal points of collaboration is the effective implementation of the global minimum tax under Pillar Two of the Two-Pillar Solution.
The participants committed to exploring enhanced cooperation between tax administrations to bolster compliance, collaboration, and certainty in administering global minimum tax rules.
Additionally, the meeting emphasized the need to strengthen global capacity-building efforts through closer partnerships with other international and regional organizations.
The African Tax Administration Forum (ATAF) Executive Secretary (ES), Mr Logan Wort, contributed to the session on Capacity Building, led by Commissioner Angela MacDonald from HM Revenue and Customs (HMRC), United Kingdom.
The ATAF ES provided insights from the African Tax Administration Forum (ATAF) and its members, as well as the perspective of the National Tax Organizations (NTO) and its members.
The outcome of the FTA's Plenary meeting in Singapore signifies a collective effort to shape the future of tax administration globally, emphasizing technological advancements, compliance, and international cooperation.